Analysis: More Corn Acres and Less Domestic Demand, Now What?

USDA released a slew of reports this week over potential acreage production and grain stocks.

In its Prospective Plantings report, USDA said Corn planted area for all purposes in 2020 is estimated at 97.0 million acres, up 8 percent or 7.29 million acres from last year. Compared with last year, planted acreage is expected to be up or unchanged in 38 of the 48 estimating States.

It’s a big number when you look at gas prices and ethanol demand. Some ethanol plants are temporarily closing some facilities due to COVID 19, the oil war overseas, oil prices and ethanol demand.